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Old December 2nd, 2011, 12:19 AM   #801
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Haha, I like it how it is! That's hilarious!
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Old December 2nd, 2011, 12:20 AM   #802
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Quote:
Originally Posted by azn_man12345 View Post
You sir, have just won SkyscraperCity poster of the month (and it's the 1st, no less!)

If you will allow me too thought, it'd be better if you slowed the animation down just a bit
The websites next slowest setting was ridiculously slow, but I kind of like the chaos of it, you have to watch it several times.


Quote:
Originally Posted by Ni3lS View Post
Fact is that the Europoint towers in Rotterdam are not tall enough to reach the height of this future monster. (94m x 3).
That's why the first box is hovering. Anything to keep it realistic.
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Old December 2nd, 2011, 12:27 AM   #803
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Fact is that the Europoint towers in Rotterdam are not tall enough to reach the height of this future monster. (94m x 3).
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Old December 3rd, 2011, 03:31 AM   #804
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I was going to say the same thing.
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Old December 3rd, 2011, 05:23 AM   #805
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Permits filed on 1 Dec. 2011 for the six story retail cube:

http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=01
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Old December 3rd, 2011, 06:25 AM   #806
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My take on the new retail cube & a refresher on what it should look like!

http://newyorkyimby.blogspot.com/201...rk-avenue.html

Quote:
While the rendering above may not be final, the concept of both the tower and the retail base seem extremely unoriginal. The glass box will likely play host to a very high-end store, but the concept has already been executed by the Apple Store nearby, albeit with slightly different dimensions. Perhaps the final product will make much more extensive use of space inside the cube rather than underneath, as Apple does--regardless of (potentially) unoriginal architecture, the site's prime location means the eventual occupant does have an excellent chance of becoming a shopping destination in its own right.
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Old December 3rd, 2011, 06:30 AM   #807
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True story. The Apple Store is literally only three blocks away.
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Old December 3rd, 2011, 04:32 PM   #808
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any new pictures?
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Old December 4th, 2011, 10:38 PM   #809
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yes !!!! please !!!!!!
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Old December 5th, 2011, 12:01 AM   #810
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Nothing. They are still moving on the ground and removing the old buildings around it.
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Old December 5th, 2011, 12:15 AM   #811
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I'd be pleased if someone could show the demolitions and document what's happening there currently. Cordial thanks in advance!
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Old December 6th, 2011, 10:10 PM   #812
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THe only thing missing in that cube is the Apple logo
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Old December 7th, 2011, 02:18 PM   #813
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http://www.nypost.com/p/news/busines...BwP8fVPkfvAN/0


Drake site is fit for LVMH

December 7, 2011

Lois Weiss

BETWEEN THE BRICKS

Luxury laden LVMH is sniffing around the L-shaped Drake site at 56th and 57th streets and Park Avenue, we’ve learned. The company has an eye on adding to its city “campus” that currently skips along the north side of East 57th Street from its Christian de Portzamparc-designed headquarters at Fifth Avenue to Park Avenue.

The new construction project would provide LVMH with a first-class site for its Cheval Blanc Hotel and landscape for its brands to showcase.

“They are looking at developing a high-stakes hotel, apartments and retail for their brands,” a retail spy said. “This is the best single piece of land in the city.”

Now controlled by Los Angeles-based CIM Group, the site was assembled over many years by developer Harry Macklowe, who still has a toe in the deal.

In 2006 LVMH opened the Maisons Cheval Blanc in the Alps. Since then, LVMH has further developed a hotel management concept and now plans to open a Cheval Blanc Hotel in Paris, with others in Oman and Egypt. In September, the luxury goods company was reported to be considering a bid for Aman Resorts, but that sales process is ongoing.

Reps for CIM and LVMH did not immediately return calls for comment.


Read more: http://www.nypost.com/p/news/busines...#ixzz1fqnQlDUi
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Old December 7th, 2011, 05:36 PM   #814
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^

Great news
But, if this project will has success, it is possible to built a second tower, like this (but more taller) on the Hudson Yards?
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Old December 8th, 2011, 01:02 AM   #815
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REAL ESTATE DECEMBER 7, 2011 Developer Courts the Global Elite Article Video Interactive Graphics Stock Quotes Comments (20) more in Real Estate Main | Find New $LINKTEXTFIND$ »Email Print Save ↓ More
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By CRAIG KARMIN
With stock markets churning and the economy questionable, New York developer Gary Barnett has picked a strange time to erect Manhattan's tallest residential building, one featuring a five-star hotel and with top-floor penthouses available for nearly $100 million apiece.

The $1.4 billion project, across from Carnegie Hall, already is about 50 floors above ground. When completed in 2013, the 90-floor property known as One57 will tower over Central Park at more than 1,000 feet. Mr. Barnett convinced two of Abu Dhabi's wealthiest investment funds to back the project, while his company, Extell Development Co., is putting in less than 10% of the roughly $700 million in equity.

Mr. Barnett and his partners are among a small band of developers borrowing heavily and rolling the dice on a highly select clientele: the global elite who float above the economic malaise.


WSJ's Craig Karmin has the story of New York City newest residential skyscraper, where penthouse apartments will go for nearly $100 million apiece. Photo: Ramsay de Give for The Wall Street Journal
While a hallmark of the economic downturn has been the collapse of the housing market, the extreme top of residential markets in New York, London, Hong Kong and other select cities has been resilient.

Mr. Barnett says the number of billionaire and multimillionaire investors in the world has never been greater. In addition to Russians and Western Europeans, he says, "you're seeing Latin Americans in a big way. You're seeing Chinese in a big way. You're seeing the return of the Middle Eastern buyer."

Thanks to this demand, the ultraluxury market in select cities is looking healthier than practically any other corner of the housing market.

Tower of Luxury
View Interactive
Through November, buyers in Manhattan signed 529 contracts for apartments priced at $4 million or more, the fastest pace since 2007, according to the Olshan Luxury Report, which tracks high-end residential sales.

In March, Russian pop-music composer Igor Krutoy paid the highest price ever for a New York condo, shelling out $48 million for 6,000 square feet of space in the Plaza hotel with a sweeping view of Central Park.

In London, the trend looks much the same. Annual price growth for all London apartments was under 14% this year but was up 24% for properties over £10 million ($15.6 million), according to broker Savills.

After an initial slump, sales have been so brisk at London's One Hyde Park that the developer has paid off its £1.15 billion construction loan. More than 60 of its 80 units have been purchased, with many of the buyers from the Middle East, Eastern Europe and Asia.

The rise of an affluent class in the developing world is driving much of the action. China has 5,400 individuals who are worth at least $50 million, which ranks it above every country but the U.S., according to the Global Wealth Report from Credit Suisse. Russia, Brazil and India each have more than 1,500 of these so-called ultrahigh-net-worth individuals.

Besides offering status, luxury condos are viewed as a way to preserve capital when financial markets offer poor returns or when there is concern, as in the Middle East, about government stability. In most downturns, luxury property holds its value better than the market as a whole.

Still, Mr. Barnett's wager has plenty of risk. A dive by the U.S. economy or a deepening of the European debt crisis would crush financial markets, reducing the ranks of the wealthy. Wall Street firms already have begun eliminating thousands of positions.

Other New York condo projects that targeted the upper crust have cratered because of poor timing. In the early 1990s, developer Bruce Eichner turned over to creditors a soaring 73-story tower that was packed with amenities and also aimed squarely at international buyers. It was located just one block away from Mr. Barnett's project.

Enlarge Image

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Buyers from the Middle East, Eastern Europe and Asia have purchased units at London's One Hyde Park.
"Everyone is affected by a recession," Mr. Barnett says. "If the stock market tanks, it will affect my business. If it's down 20%, a billionaire is not in the mood to spend $20 million."

Extell and its partners could get stuck with a shimmering building full of unsold condos and a limited income stream to pay off massive debt.

Most of that pain would be borne by the Abu Dhabi funds, which have put in about $650 million of the project's equity. Extell has put up $50 million, though it could get a bigger piece of the profits if sales go well. The Abu Dhabi partners also have guaranteed to buy back the loan if sales targets aren't reached.

Extell isn't the only condo developer courting these buyers. Los Angeles-based CIM Group and developer Harry Macklowe are planning a 1,300-foot condominium on Park Avenue. Still, Mr. Macklowe has acknowledged that he and his partner are at least two years behind Extell. With his head start, Mr. Barnett says within a week of opening his salesroom last month, he had two signed contracts for $45 million condos.

For all his time courting the world's elite, Mr. Barnett has shown scant interest in joining their club. He considered taking a penthouse apartment at his luxury building on Manhattan's West End Avenue earlier this year. But he and his wife decided to stay in their Queens home where they live with five of their 10 children.

Mr. Barnett began assembling what would become One57 in 1998, when he bought a building on West 57th Street. At first, he planned a 40-story condo building that he projected to cost $300 million. But as adjacent properties became available he snapped them up. In all, he completed 20 transactions around the site.

About four years ago, he was introduced through a mutual friend to Khadem Al Qubaisi, a top executive of two major Abu Dhabi government investment funds: Aabar Investments and Tasameem. Aabar, which is a major shareholder in Mercedes and has large stakes in banking and aviation companies, had never previously invested in real estate outside of Abu Dhabi.

In early 2009, with the markets in turmoil, Mr. Barnett needed more equity to keep the project going. "I had to put more in myself, but I didn't have it," he says. He met Mr. Al Qubaisi in London and requested additional funds. He left with a commitment for about $250 million more. "There will be buyers," Mr. Barnett says Mr. Al Qubaisi told him.

Aabar also helped negotiate a $700 million financing, which is coming from a syndicate led by Bank of America Corp, and Banco Santander.

It is one of the largest construction loans made since the downturn. A partnership led by Hyatt Hotels Corp. will pay off $375 million of that debt when its Park Hyatt opens at the base of the building in about two years.

Designed by French architect Christian de Portzamparc, One57's 95 condos for sale have a combined price tag of $2 billion, or an average per unit of more than $21 million, which would match Manhattan's 15 Central Park West as the most expensive building ever sold.

Write to Craig Karmin at [email protected]
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Old December 8th, 2011, 05:33 PM   #816
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http://www.432park.com/
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Old December 8th, 2011, 05:39 PM   #817
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That live webcam is great.
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Old December 8th, 2011, 05:43 PM   #818
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I still think that the renders we saw so far arent the real thing. I mean, why should the developer of this building waste an oppurtunity with such a mundane tower, withTHAt height while a few blocks away Hines and Extell are gonna build new icons for NYC.

I think we will have a big suprise one day when official renders are released.
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Old December 8th, 2011, 06:10 PM   #819
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Quote:
Originally Posted by germantower View Post
I still think that the renders we saw so far arent the real thing. I mean, why should the developer of this building waste an oppurtunity with such a mundane tower, withTHAt height while a few blocks away Hines and Extell are gonna build new icons for NYC.

I think we will have a big suprise one day when official renders are released.
They are the real thing. This tower's "statement" is its unique facade, which is a "structural facade" to support the very high, very thin tower, and the fact that it consists of six, floating vertical buildings.
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Old December 8th, 2011, 07:09 PM   #820
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Update as of NOW decembre 8th 2011 12pm EST from the webcam.



Copyright: CIM / http://www.432park.com/
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